Young Home-Owner (18 years)

scratchthecat

Priced Out are conducting a Mortgage Fraud Survey

[Deleted User]

See here's the problem. Lots of people can't afford to have a mortgage. You are not alone.

However, these people are typically denied mortgages. You've lied, got a mortgage beyond your repayment limits (i.e. to be able to pay it AND have a life)

I've got a 180k mortgage in my name. It took me 4 years at uni, followed by 3 1/2 years of saving to a) get a good job b) save enough for a deposit. I did that saving whilst living away from my parents and whilst I also paid rent+bills.

Now, with the mortgage I know it's my responsibility to pay the mortgage and no one elses. We also stretched the truth a little when saying how much we could afford, but it was on the basis of estimated future pay rises. Unfortunately, if you aren't on a 'career track', stretching the truth could get you in financial trouble.

Here's the thing, the state will help bail you out if you can't pay your rent but not property you own yourself. Owning a home is a privilege only available to those that can afford it.

Just take on a lodger, that'll sort everything out

Dan_Collins_2

What the%&%^ is this all about! Grant for what? OK here you are, you lied about your income and now you cant afford it so here have some money! Idiot! This is a wind up!

You are the kind of customer that is making this industry a hard place to work in. You wanted the mortgage you lied and now its not your fault its the brokers? I hope you get your sorry back side repo'd and you take your broker down with you!

Saying you earn 5k more cos your accountant saves you some tax is one thing but saying your self employed when you are employed and doubling your income, I woul have told you to @@@@ off!

scratchthecat

Face it OP, you should go to jail. If I were the webmaster, I'd track you down and get the cops onto you.

Larry365

Hi every. Thankyou all for your replies. I must now tell you all my real story before i land myself in some trouble lol (didnt realise what a huge argie bargie this would cause).

First of all my real name is Mark Gosling and I live in Grantham but shall soon be moving to Lincoln. Right. Basically everything in my story is true apart from the mortgage part and anything that i have said that would happen if i had that mortgage if you get me. I am 18, and i have worked very hard up to now to save up for this money (£14000) When i first started saving i wasnt sure what i was saving for exactly. After seeing alot on the news about property being the way forward if still not one of the most risky ones i concidered buying a house. After doing some research i realised this is not a straight forward thing to do especially when it comes to actually obtaining a mortgage let alone of the bits after that. I was talking to someone one day and they told me that there is a way to get a mortgage by the means of giving false info. This all sounded abit dodgey to me but i was reasured that its the way everyone does it and with finance companies getting tighter and tighter its alomost the only way. Still not too sure about this whole thing i figured a way i could get help from real people who have seen and done it all before, those people are you guys. I decided on my patented "pretend you have done it and see what everyone thinks" approach. I must say the response to this i have found over whelming and i have well and truely made my mind up about whether to go down this path or not. It is a defenate NOT. I must point out at this point because i dont think i have made it clear I DO NOT OWN A HOUSE, i rent a flat with a partner. We both work full time and live a very good live style. Almost spoiling ourselves. I work as an apprentice making traditional and speacialist wood working tools in lincoln with a promising career ahead of me in this sector. I have not told my partner i have this amount of money for fear that i will be preasured into spending it on crap before doing something wise with it. So i thankyou all for the the response, Although still not too sure what to do with the money (i know its not a huge amount but something must be done) i know what i have previously discussed is not an aoption. I Am Very Sorry if i have got anyone a little too wound up about this one. And i hope no one has actually gone as far as reporting this, have they?? I dont want to get in trouble for wasting police time for falsely admitting fraud, i'm sure they could get me for that these days.

Please feel free to rip my head off for all this but at first i didnt realise how deep this would get. But i decided to march on with my story to get the most realistic answers, answers you cannot get from advicers and personal friends.

Again thanks and looking for to hearing from you all

Dan_Collins_2

Well you are a tit! We would have given you the same answers if you had asked in the right way!

Then again you may have now given your self less chance, you should have given your real situ and we could have helped. You have two incomes and a deposit, you may not have to lie!

But hey you have wasted everybodies time so your on your own buddy!

Larry365

Dan_Collins wrote: »

Well you are a tit! We would have given you the same answers if you had asked in the right way!

Then again you may have now given your self less chance, you should have given your real situ and we could have helped. You have two incomes and a deposit, you may not have to lie!

But hey you have wasted everybodies time so your on your own buddy!

Yeh i suppose your right , kinda wasnt thinking at the same time as thinking too much, although my girl is amazing i wouldnt risk buying a house with her at such a young age, Sorry man but thanks

Dan_Collins_2

NP good luck, I was prob being a little harsh. I kind of get what you are trying to do. Your friend has a point, it has been a way of getting finance but it has been clamped down on. 2-3 maybe 4 years ago it helped push the house market up as ppl could aford to borrow more as rates went down so low and they could make up income to get the mortgage!

aloiseb

I thought nothing about this added up about this except the innocence of youth!

Lots of us were "in at the death" of the last property crash + wonder what we did to deserve that.....we're still bailing ourselves out. We therefore get quite incensed at hearing people saying the world owes them a living, just cos they've worked hard for 2 years!!!
Why not take a break from work and go to the National Coalmining Museum - I think it's not far from Lincoln - and see how other people not so long ago have had to work appallingly hard all their lives, just to keep starvation at bay. (and no, I wasn't brought up in a shoebox, or even Yorkshire!)

Good luck with the renting: I bet it makes more sense than ever now.

Zebedee69

Hello,

I still think:

a: You need a proper career.
b: You need a cute 18 year old blond
c: You need to spend some of your wad on a nice holiday
d: You dont need to buy a house
e: Lying to the extent you have is a bad idea, im not bothered with the fraud thing stuff the banks im more worried about you overstretching yourself.
f: Labouring aint a proper job. Its a way to earn money for people who cant/dont want to work/study/move on in life.